Friday, 29 January 2016

GK Quiz for LIC AAO, NICL AO Exams

GK Quiz for LIC AAO, NICL AO Exams

Q.1. The punch line of the advertisement of which of the following organization is “Jindagi ke sath bhi Jindagi ke bad bhi” ?(A) New India Assurance(B) General Insurance Corporation(C) ICICI Prudential(D) Life Insurance Corporation Of India(E) None of these

ANS- D

Q.2. The central office of the Life Insurance Corporation of India (LIC) is located at

(A) Kolkata(B) New Delhi(C) Chennai(D) Pune(E) Mumbai

ANS- E

Q.3. The Life Insurance Corporation Of India has how many Zonal offices in India ?

(A) Five (B) Eight (C) Ten (D) Fifteen (E) None of these

ANS- B

Q.4. If an organization wishes to venture into Insurance Business it has to obtain a licence first from which of the following ?

Q.10. Which of the following is largest Non Life Insurance Company in India ?

(A) ICICI Lombard General Insurance Company Ltd.(B) United India Insurance Company Ltd.(C) General Insurance Company Ltd.(D). New India Assurance Company Ltd.(E) None of these

Answer – D

Q.11. Which of the following Insurance Companies was launched with NABARD as one of its promoter’s with 30% stake in it ?

(A) General Insurance Corporation Ltd.(B) National Insurance Cornpany Ltd.(C) Agriculture Insurance Company Ltd,(D) SBI Life Insurance Company Ltd.(E) None of these

Answer – A

Q.12. Which of the following correctly describes what the ‘Bancassurance’ is

1. It is an arrangement whereby the branches of a bank sell / distribute insurance products of an insurance company.2. It is a new product developed/ launched by the banks in which the risks of the high value customers are covered for any losses to their property and/or lives through an insurance cover.3. It is a new product launched by some banks by which they are providing insurance cover to exporters/ importers for the losses, if any due to high fluctuations in the exchange rates of dollars and other major currencies.

(A) Only 1(B) Only2(C) Only 3(D) All 1, 2 and 3(E) None of these

Answer – A

Q.13. As per the news published in various newspapers, Life Insurance policies may become paperless in the near future. This means

1) LIC will not insure any person here after as it has already reached its peak2) LIC will not ask for any documents from a person who wishes to purchase an Insurance policy3) All policy related documents and policy certificates will henceforth be available in electronic form and not in their present physical4) LIC henceforth will not entertain any claim or complaint in written form or on paper. Things should be in electronic condition.5) None of these

Answer – 3

Q.14. In Insurance policies we always find a date which is “Date of Maturity”. What does it mean?

1) This is the date on which the policy was sold to the customer/person insured.2) This is the date on which the policy holder will have to submit his/her claimseeking the amount of the policy. Otherwise the company will not make anypayment to him/her.3) This is the date on which the contract between the person and insurance company will come to an end.4) The date on which the insurance company makes the final payment to theinsured person which is normally fifteen days after the “payment due date”.5) None of these